United Bankshares completes acquisition of Cardinal Financial Corp.
- April 24, 2017
United Bankshares Inc. has completed its acquisition of Tyson Corner-based Cardinal Financial Corp.
The deal, valued at $912 million when announced last year, is United’s tenth recent acquisition in the Washington, D.C., area.
Cardinal had $4.3 billion in assets, boosting United’s total assets to more than $19 billion.
United has headquarters in Charleston, W.Va., and Washington, D.C.
With the addition of Cardinal’s 22 banking locations, United now has 145 full-service offices in Virginia, West Virginia, Pennsylvania, Maryland, Ohio and the District of Columbia.
United officials said the bank now ranks No. 1 in deposit market share among community banks in the Washington area.
As a result of the acquisition, Bernard H. Clineburg, Cardinal’s executive chairman, will join United’s board of directors.